Tuesday, August 9, 2011
"Who's gonna buy them now?"
Remember Bill Gross's infamous Tweet on June 30th when he wondered aloud who will buy Treasuries now that QE2 was ending.
Well despite the end of Quantitative Easing and a first-ever downgrade in the U.S. credit rating by a major ratings agency, the 10-year Treasury yield is now more tha ONE FULL PERCENT below the level where Bill Gross worried aloud publicly.
You'd think a guy who runs over $200 bln of bond money and who's dubbed, "The Bond King," would know something about bonds.